National Economic Council director and Biden advisor, Lael Brainard, claimed during an appearance on CNBC that President Biden’s economic record is one of the best in the world.
Brainard also claimed that world leaders would gladly trade places.
Despite the US being in the worst economic conditions in decades, she dismissed recession fears, pointing to recent jobs reports.
The Biden admin has been spinning October’s jobs report as a win for “Bidenomics,” a campaign slogan geared towards improving the perception of Biden’s economic record.
Biden wrote Friday in a statement:
“The economy has created 14 million jobs since I took office and 150,000 jobs in October.”
“The unemployment rate has been below 4% for 21 months in a row, the longest stretch in more than 50 years, at a time when the share of working-age Americans with jobs is higher than before the pandemic.”
Brainard joined CNBC’s Squawk Box to praise Biden’s so-called economic recovery.
The top Biden advisor even claimed that global leaders see Biden as an example.
“If I look around the world, I don’t think there’s a leader out there who wouldn’t rather have the economic record that President Biden has today,” she said.
Watch
Top Biden economic advisor Lael Brainard: "I don't think there's a leader out there who wouldn't rather have the economic record that President Biden has today.”
— Proud Elephant 🇺🇸🦅 (@ProudElephantUS) November 6, 2023
DO YOU AGREE WITH HER? 🤣pic.twitter.com/7Lp1nviyH5
But according to polls, Biden’s messaging has failed to resonate with voters, with most voters pointing to inflation as a major red flag.
While inflation has largely stabilized, prices have failed to return to pre-2022 levels.
A New York Times and Siena College poll revealed an astonishing two percent of voters agreed that the economy was in “excellent shape.”
With voters under 30, Biden also faired particularly poorly.
Many of those voters, who backed Biden overwhelmingly in 2020, now indicated that they trust Trump by a margin of 28 points.
Meanwhile, just two percent of voters under 30 said the economy was in excellent condition.
However, Brainard appears to believe the economy is humming and claims that Biden’s economic policies are popular.
“I think we have 3 percent growth over the last three years and over the last year. And inflation is down by 60 percent,” she said.
“A year ago, a consensus of forecasters said that to get inflation where it is today, down to where it is today, you’d need to see 4.5 percent unemployment and no growth over the last year. So I think the economy is performing exceptionally well,” she added.
“You know, my sense is that Americans really like the president’s policies.”
When asked about a looming recession in 2024, she brushed it off.
“So we are seeing data that is causing most forecasters to take recession calls off the table.”
“If you look at the jobs numbers from Friday, we’re now seeing job creation at about 200,000 per month, a very sustainable level,” Brainard said in response to the recession question.
“And if you look at what’s going on with the job market, what is so interesting is that labor supply has been increasing at twice the pace of the year before the pandemic.”
“So what’s really going on is we’re seeing a more balanced labor market because so many more people are coming back into the labor force at a time when job satisfaction is very high.”
“When job satisfaction is very high.”
“Those are reasons that plus productivity growth being strong, those are reasons to be optimistic.”
